eBook: Accelerating banking efficiency
Today’s enterprise technology landscape is radically different from what it was a mere ten years ago. Business and consumers alike have come to expect IT systems that are capable of evolving rapidly, almost instantaneously, all the while remaining stable, secure, and cost effective.
Yet, banks continue to spend an average of 80% of their annual IT budget on run-the-business costs. In a worst-case scenario release cycles are slow, operations remain dependent on manual process, IT infrastructure costs continue to hurt the bottom line and mitigation of regulatory risks caused by out of date technology is a constant distraction for C-suite executives.
Legacy IT has gotten a bad reputation, and it can be easy to become despondent in the face of all the information out there which talks about needing to build new platforms from scratch, which is unrealistic in established and highly regulated businesses.
This leads us to ask two questions:
- What opportunities are out there to help you take advantage of advances in enterprise technology, such as building applications faster, deploying with confidence, reducing maintenance costs and remaining competitive within the ever-changing banking industry?
- How do you exploit this technology without having to completely overhaul the systems that you have?
We have explored three opportunities that are available for banks to make the most of their existing infrastructure and deliver the products and services that their customers expect.
From identifying how to make the transition to a cloud-first strategy more quickly, gaining efficiency through automation by realizing the benefits of DevOps and how to use a digital-first strategy to engage with the customers of the future, this e-book explores the challenges of each opportunity, the solutions to address and overcome these and top tips to get started.
Whether the objective is driving Gen-Z and Millennial consumers to a retail platform, attracting HENRYs (High Earners Not Rich Yet) to a next-generation wealth management platform, or simply reducing RTB cost in order to allow smarter investment in the future, the simple fact is that step-change is required within your bank and it’s not an easy one to make. But it isn’t impossible either, with the right starting points and buy-in from the business, you can get started today.